Hi, I'm new to REI and I'm looking to invest in rental properties in and around Leander TX. Since I'm OOS, I would appreciate if someone could answer my questions.
1. What are some good neighborhoods(zip codes) in Leander?
2. How soon a 3Bd 2Ba rents and what is the vacancy rate?
3. Can I expect to be cash-flow positive?
4. Can someone share a reference to a realtor and a PM that serves that area?
1. What are some good neighborhoods(zip codes) in Leander? Price point will dictate what neighborhoods in Leander you are looking in. Overall, it is a very attractive, appreciating city with a lot going for it. 10-15 minutes to the new Apple campus. Putting in a billion dollar lagoon area with shops and restaurants. On the MetroRail to take you to downtown Austin in 25 min.
2. How soon a 3Bd 2Ba rents and what is the vacancy rate? If you price it right it will rent quickly (within a week or two). A good Realtor will help your vacancy rate be close to 2-3% but you can put in 5% to be conservative.
3. Can I expect to be cash-flow positive? Unlikely without a rehab project or putting more than 25% down. You certainly can cover your PITI and come close to breaking even but with great potential appreciation comes less cash flow. This is not speculation either. 40 years of data shows the economy here is setup to have reliable appreciation. Not to mention, lots of new jobs, jobs, jobs.
4. Can someone share a reference to a realtor and a PM that serves that area? I sent you a message.